The Controller and Accountant-General’s Department (CAGD) of Ghana has called for the strengthening of fiscal and public financial management systems across Africa, highlighting the critical role of transparency, accountability, and digital innovation in ensuring sustainable economic growth.
Speaking at the 2025 African Association of Accountants General (AAAG) Annual Conference hosted in Accra, the head of CAGD, Kwasi Agyei, emphasized that robust fiscal systems are essential for promoting economic prosperity and restoring public trust in government institutions. The conference, themed “Africa of Tomorrow: Positioning Public Finance Management for Economic Prosperity,” brought together finance leaders from across the continent to discuss strategies for improving financial governance and accountability.
According to Agyei, strengthening public financial management (PFM) systems requires adopting digital financial-management tools, enhancing payroll integrity, and aligning with international public-sector accounting standards. These steps, he noted, would help reduce fraud, improve efficiency, and ensure that public funds are effectively used to deliver tangible benefits to citizens.
The initiative also focuses on collaboration across African countries, enabling the sharing of best practices and alignment of fiscal policies. Agyei highlighted that regional cooperation is particularly important in the context of the African Continental Free Trade Area (AfCFTA), where harmonized financial systems can facilitate cross-border investment and economic integration.
CAGD’s advocacy reflects a broader recognition that weak financial systems have historically contributed to fiscal instability, resource misallocation, and erosion of public trust in many African nations. By prioritizing transparency, rigorous oversight, and digitalisation, Ghana aims to lead by example and inspire other countries to adopt similar reforms.
The 2025 AAAG conference provided a platform for knowledge exchange, policy discussion, and the promotion of innovative solutions to public finance challenges. Stakeholders noted that continuous improvements in fiscal systems are not only essential for economic growth but also for strengthening governance, boosting investor confidence, and ensuring that taxpayer funds are efficiently used to improve public services.
As Africa continues to pursue sustainable economic development, the CAGD’s efforts underscore the importance of strong financial management frameworks that safeguard public resources and promote accountability at all levels of government.
Source: Thepressradio.com
